Cintas (NASDAQ:CTAS) Price Target Increased to $225.00 by Analysts at Truist Financial

Cintas (NASDAQ:CTAS) had its price target increased by analysts at Truist Financial from $212.50 to $225.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price suggests a potential upside of 11.73% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Royal Bank of Canada downgraded Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price target for the company. in a report on Monday, July 15th. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Morgan Stanley boosted their price target on Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a report on Friday, July 19th. UBS Group boosted their price target on Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Stifel Nicolaus boosted their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $186.30.

Cintas Trading Down 1.2 %

Shares of Cintas stock opened at $201.38 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. Cintas has a 1 year low of $118.68 and a 1 year high of $209.12. The company has a market capitalization of $20.43 billion, a P/E ratio of 13.91, a P/E/G ratio of 4.36 and a beta of 1.32. The business has a 50 day moving average price of $205.79 and a 200 day moving average price of $181.82.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm posted $0.83 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Cintas will post 16.64 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the sale, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.10% of the stock is owned by corporate insiders.

Institutional Trading of Cintas

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its position in Cintas by 2.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after purchasing an additional 838 shares during the period. QRG Capital Management Inc. boosted its position in Cintas by 111.5% during the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock worth $5,151,000 after purchasing an additional 3,878 shares during the period. Thoroughbred Financial Services LLC boosted its position in Cintas by 105.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock valued at $3,515,000 after buying an additional 2,580 shares during the last quarter. Journey Advisory Group LLC boosted its position in Cintas by 17.1% in the 2nd quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock valued at $4,511,000 after buying an additional 940 shares during the last quarter. Finally, Bensler LLC increased its position in shares of Cintas by 4.7% during the second quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock worth $10,048,000 after acquiring an additional 646 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.